By Craig Botham, Emerging Markets Economist at Schroders
Brazil’s fourth quarter GDP growth came in at 1.9%, beating City expectations. The economy expanded 0.7% in the final three months of 2013, against a 0.5% contraction in the previous quarter. This brings growth for 2013 to 2.3%, year on year, a positive surprise. Yet a look at the growth breakdown reveals a less rosy picture; every sector of the economy shrank except for government spending. Growth appears to have been fuelled by higher government spending.
Euroclear Reports Record AUC
Speed read: The Euroclear group reported another year of robust operating results in 2013. It says the operating highlights reinforce the strength of the group’s post-trade value proposition and underscore the support of its global client franchise in an increasingly regulated yet dynamic market landscape.
The key operating results for the Euroclear group in 2013 are:
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